Definitions

"Eligible Entity" means a county, municipality, or special district which has created a conservation trust fund pursuant to this section and which has certified to the department of local affairs that is has created such fund.

"New Conservation Sites" means interest in land and water, acquired after establishment of a conservation trust fund pursuant to this section, for park or recreation purposes, for all types of open space, including but not limited to flood plains, greenbelts, agricultural lands, or scenic areas, or for any scientific, historic, scenic, recreational, aesthetic, or similar purpose.

"Interests in land and water" means any and all rights and interests in land or water, or both, including fee interests and less than full fee interests such as future interest, development rights, easements, covenants, and contractual rights. Every interests in land or water may be in perpetuity or for a fixed term and shall be deemed to run with the land or water to which it pertains for the benefit of the citizens of this state.

"Capitol Improvements" means the acquisition or improvement of fixed assets.

"Fixed Assets" means land, buildings, equipment and improvements other than buildings that the recipient uses to provide conservation Trust Fund-allowable expenditures, including costs of construction, renovation, demolition, rehabilitation, deferred maintenance, improvements, equipment and furnishings. Fixed assets are determined to be those with an original cost of $500.00, or with a useful life of one year or more.

"Maintenance" means keeping Conservation Trust Fund-eligible assets in an original or existing state of repair or of preserving them from failure or decline.